cancel
Showing results for 
Search instead for 
Did you mean: 

Need help with settlement

tag
Anonymous
Not applicable

Need help with settlement

Hi, 

I'm new to the forum and was hoping to get some direction on a settlement for my son's school loan.  We have been working with the law firm and they agreed to settle for a lesser amount. Since this has been reported negatively on his credit report and my husbands (co-signor), any suggestions on a letter to request for them to remove from reports or just have them agree to post as settled in full?  Any suggestions would be greatly appreciated.

Message 1 of 2
1 REPLY 1
RonM21
Valued Contributor

Re: Need help with settlement

The best option would be a pay for delete, but usually that is a full payment. IF not, you can pay them the settlement and it will at least be satisfied and show up as paid. That would look a bit better to a lender looking at he report, even though it wouldn't boost the score.


Total CL: $321.7kUTL: 2%AAoA: 7.0yrsBaddies: 0Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

BoA-55k | NFCU-45k | AMEX-42k | DISC-40.6k | PENFED-38.4k | LOWES-35k | ALLIANT-25k | CITI-15.7k | BARCLAYS-15k | CHASE-10k

Message 2 of 2
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.